negotiable instrument act 1881
Querist :
Anonymous
(Querist) 04 January 2011
This query is : Resolved
dear sir,
any body can help me for NI act 1881 sec 138 i want to work with finance co. but i have no ide abt that working so plz give all prossess & other needful knowledge for that
Guest
(Expert) 04 January 2011
KINDLY NOTE THAT IN CASE YOU ARE JOINING AS AN EMPLOYEE OF THE SAID FINANCE CO.KINDLY STRICTLY FOLLOW THE TERMS AND CONDITIONS OF YOUR JOB OFFER AND APPOINTMENT LETTER.
KINDLY AVOID EXCEEDING THE LIMIT OF AUTHORITY GIVEN TO YOU IN WRITING ON THE SAID POST.
REGARDING N.I.ACT PROVISIONS OF SEC.138 YOU MAY KINDLY SEND DETAILS WILL HELP YOU.
GOOD LUCK.
Khaleel Ahmed Mohammed
(Expert) 04 January 2011
You are advised to search at google,definately you will find your required provission of law.
adv. rajeev ( rajoo )
(Expert) 04 January 2011
Go thru., the NI Act provisions you will easily understand, inspite of it if you get any problems then upload your question in this club learned members will answer for that.
Sachin Bhatia
(Expert) 10 January 2011
138. Dishonour of cheque for insufficiency, etc., of funds in the accounts
Where any cheque drawn by a person on an account maintained by him with a banker for payment of any amount of money to another person from out of that account for the discharge, in whole or in part, of any debt or other liability, is returned by the bank unpaid, either because of the amount of money standing to the credit of that account is insufficient to honour the cheque or that it exceeds the amount arranged to be paid from that account by an agreement made with that bank, such person shall be deemed to have committed an offence and shall without prejudice to any other provisions of this Act, be punished with imprisonment for , or with fine which may extend to twice the amount of the cheque, or with both:
Provided that nothing contained in this section shall apply unless-
(a) The cheque has been presented to the bank within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier.
(b) The payee or the holder induce course of the cheque, as the case may be, makes a demand for the payment of the said amount of money by giving a notice, in writing, to the drawer, of the cheque,of the receipt of information by him from the bank regarding the return of the cheques as unpaid, and
(c) The drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.
